The new features, showcased at Xerocon San Diego 2019, show the increasing power of the Xero platform, which connects to more than 700 third-party apps and the financial institutions and vendors businesses interact with every day.
The new products and features include:
- A revamped Xero App Marketplace, enabling small businesses and advisors to build the perfect toolkit for their operations and escape the “one-size-fits-all” way of doing business.
- A US-first integration with Novo, building on Xero’s leadership in the financial web so business owners can access the financial data they need to run their business, quickly.
“Small businesses need world-class tools to run world-class operations,” said Nick Houldsworth, Executive General Manager, Ecosystem & XLLP at Xero. “With these new features and integrations, businesses can build their perfect toolkit, choosing from our expansive ecosystem to find, try and manage the apps suitable for their business and their industry.
“We’re also continuing to build the global financial web through partnerships with the world’s largest banks and emerging fintechs, providing small businesses and their advisors an up-to-date view of their cash flow and important insights into how their business is performing. Having this data means businesses make smarter decisions, faster, and with the right information to hand, all on the Xero platform.”
All-new Xero App Marketplace provides businesses the perfect toolkit
The improved Xero App Marketplace makes it easier than ever for small businesses and advisors to build their perfect business toolkit. Now, small businesses can discover apps that will help their operations. The platform tailors suggested integrations for the individual, while advisors can better help their clients curate the toolkit for them.
With an industry-leading ecosystem of more than 700 certified apps and 50,000 users of the developer API, the Xero platform is already the best way to replace monolithic software with a carefully curated set of best-of-breed tools that help small businesses grow.
According to the Xero Small Business Fintech Outlook report, US small businesses believe the ability to choose key apps or software with dynamic pricing is one of the strongest financial software preferences.
With the improved Marketplace, business owners can now more quickly find the best solution they want to connect seamlessly to the Xero platform, whether it’s to manage payroll, inventory, expenses or tasks specific to their industry. When logged into Xero, the Marketplace will personalize the possible tools to the small business to easily find the apps best suited to them.
The new App Marketplace also makes it easier for advisors to find the tools suited to their practice, and recommend the right apps for their clients. Combined with the new App Advisory certification badges, advisors can build their practice with an expertise in developing the right tech stacks for their small business clients.
Xero is working closely with more than 50,000 accessors of the Xero API in the ecosystem to provide personalized onboarding and certification and helping them access a global community of more than 1.8 million subscribers.
US fintech company Novo connects to Xero
Small businesses and entrepreneur customers of US-based fintech company Novo will receive transaction information directly in the Xero platform, giving them an up-to-date view of their cash flow. A fully digital offering, Novo is aimed at innovative entrepreneurs and small business owners, and allows them to set up a bank account from their phone — providing a better banking experience with real-time insights into their business.
Building on Xero’s global leadership in the financial web, Novo is the first US-based financial institution to integrate with Xero’s global bank feeds API, launched in late 2018. Once business owners securely connect their Novo transaction accounts to Xero, they will receive real-time data directly in their accounting ledger, cutting down on time spent reconciling transactions, and increasing data accuracy.
The latest integration builds on the existing connections Xero has with more than 200 financial institutions globally, including Wells Fargo, Capital One and BBVA in the US, and CIBC in Canada.
Born in the cloud, Xero is a beautiful, easy-to-use platform for small businesses and their advisors. Xero provides its 1.8 million subscribers with connections to a thriving ecosystem of 700+ third party apps and 200+ connections to banks and financial service providers. On the inaugural 2018 Financial Times FT1000 High-Growth Companies Asia Pacific list, Xero was the fastest growing tech company in the $200 million+ segment. Xero won ‘Bookkeeping software of the year’ from the Institute of Certified Bookkeepers UK in 2018, and was rated by Canstar Blue as Australia’s best accounting software over four consecutive years, 2015-2018.